Teen Town is not considered jazz, it's fusion. Play a swing tune or a bebop tune. Preferably a Parker head, one chorus walking, one chorus soloing, head out. That will show that you can not only learn a very technical melody, but improvise over changes as well. Teen Town just shows you learned a Jaco tune.

I would choose a Parker head...and since most of his heads are based of changes to old standards learn the old standard and either play that as the head in or out. When i was Auditioning for Manhattan School of Music as a jazz major I had a lesson with one of the judges on the Audition panel a week before, that was the advice he gave me, and I got in

Plus....Jaco is so overplayed that they'll want to hear something that took some creativity and shows that you know music...not just bass players